SpaceX now seeking a $250 million loan, not $500 million
Capitalism in space: SpaceX has reduced the private loan it is seeking from $500 to $750 million down to $250 million.
Goldman Sachs Group Inc. was initially canvassing investors for a $500 million deal for SpaceX. During marketing of the loan, Musk changed advisers and chose Bank of America to officially launch the deal to investors at $750 million.
The switch surprised bankers and investors, as Goldman is widely viewed as the Wall Street firm closest to Musk. It helped take Tesla Inc. public in 2010, led its $1.8 billion bond sale last year and advised Musk on his short-lived attempt to take the electric carmaker private for $420 a share Goldman balked when SpaceX, a first-time issuer, wanted wide latitude to raise additional debt in the future, people with knowledge of the matter said earlier this month.
The loan isn’t the only way Musk has been trying to raise cash with SpaceX, which was founded in 2002 and last valued at about $28 billion. He also recently inquired with at least one bank about a personal loan tied to his stake in the rocket company, a person with knowledge of the matter said earlier this month.
It seems to me that Musk is acting here in a manner that will allow him to maintain as much independence as possible, a very wise approach.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Capitalism in space: SpaceX has reduced the private loan it is seeking from $500 to $750 million down to $250 million.
Goldman Sachs Group Inc. was initially canvassing investors for a $500 million deal for SpaceX. During marketing of the loan, Musk changed advisers and chose Bank of America to officially launch the deal to investors at $750 million.
The switch surprised bankers and investors, as Goldman is widely viewed as the Wall Street firm closest to Musk. It helped take Tesla Inc. public in 2010, led its $1.8 billion bond sale last year and advised Musk on his short-lived attempt to take the electric carmaker private for $420 a share Goldman balked when SpaceX, a first-time issuer, wanted wide latitude to raise additional debt in the future, people with knowledge of the matter said earlier this month.
The loan isn’t the only way Musk has been trying to raise cash with SpaceX, which was founded in 2002 and last valued at about $28 billion. He also recently inquired with at least one bank about a personal loan tied to his stake in the rocket company, a person with knowledge of the matter said earlier this month.
It seems to me that Musk is acting here in a manner that will allow him to maintain as much independence as possible, a very wise approach.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
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